inTEST subsidiary Acculogic enters 5-year lease for 16,437 sq ft facility in Markham, Ontario

INTEST CORP

Lease term Jan 1, 2023 to Feb 29, 2028 for 16,437 sq ft office/warehouse/manufacturing space.
Year 1 monthly base rent CAD $22,600.88; escalates to CAD $25,340.38 by Year 5.
Security deposit of CAD $70,228.32 (incl. HST) applied to first and last months' rent.
Acculogic has option to extend lease for one additional 5-year term with 9 months' notice.
Lease consolidates two existing Markham facilities expiring Feb 2023 and Jul 2023.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

INTEST CORP entered into Lease with Apple Creek Properties Limited (effective 2022-11-30).

Action: entry
Agreement: lease
Counterparty: Apple Creek Properties Limited
Effective: 2022-11-30

Exact text from the filing

On November 30, 2022, Acculogic Inc. (“Acculogic”), a subsidiary of inTEST Corporation, entered into a lease agreement (the “Lease”), with a term commencing on January 1, 2023 and ending on February 29, 2028, with Apple Creek Properties Limited (the “Landlord”) for approximately 16,437 square feet of office, warehouse and manufacturing space located in Markham, Ontario.

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Source: SEC EDGAR

accession 0001437749-22-028501

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